The beta version of Arbitrum One, which uses Optimistic Rollup technology, attracts the interest of more than 250 Ethereum projects, which want to implement the protocol to improve its scalability and reduce the network's commission rates.
The developers of Arbitrum One, the new scalability protocol of Ethereum, announced the launch of the beta version of the protocol on mainnet a few days ago, attracting about 250 projects that want to integrate with the new scaling protocol, including the DeFi most important in the ecosystem, such as Sushi Swap y Uniswap V3.
The Arbitrum One beta is now available for developers to request access, and once the quorum of projects within this protocol is met, developers will open access to the public.
Also, as reported in the launch release, Arbitrum One, developed with Arbitrum technology and Optimistic Rollup, offers high performance for transactions on the network, which are confirmed in a few seconds and with commission fees reduced by up to 50 times.
Arbitrum One has been in development since 2018, and it hit the Ethereum testnet last year, but the current problems with scalability, performance and high costs on Ethereum, which are becoming more pronounced every day, are accelerating the need for second-layer scaling protocols, such as Arbitrum and Polygon, which are becoming popular and a new trend within the crypto industry.
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The rise of Ethereum and the need for scalability
Cryptocurrencies have had a huge impact on our lives, and Ethereum is no exception to this reality. Since its arrival, the second most important cryptocurrency and blockchain network in the industry has been transforming the current financial system, evolving the set of products and services offered with the implementation of smart contracts (smart contracts), a technological innovation that makes it possible to create decentralized and completely autonomous financial applications and protocols.
The ease of accessing financial products such as loans, exchange and liquidity platforms, yield and other opportunities to generate value through a blockchain has made Ethereum one of the most used and in-demand networks in the world.
However, Ethereum's rapid growth has led to network congestion, increasing its fees and affecting its scalability. To address these issues, developers have been working on creating new second-layer protocols to expand the capabilities of the main blockchain.
Arbitrum is one of these protocols, developed by offchain labs, to improve the scalability of the network and reduce its transaction costs, making Ethereum once again an inclusive and accessible blockchain for all.
DeFi for everyone with Arbitrum and Optimistic Rollup
The idea behind decentralized finance protocols is to offer decentralized financial products and highly liquid markets accessible to everyone. However, Ethereum's current problems make it difficult for many protocols to achieve this goal.
Arbitrum One aims to address the scalability challenge by introducing unique features of the Optimistic Rollup technology, which brings an imminent solution to improve Ethereum’s scalability, performance, and sustainability. Rollups are an innovation that helps optimize transaction processing within the network by compressing and grouping them into batches to confirm them in less time and at a low cost.
SushiSwap and Uniswap on Arbitrum One
Two of the largest DeFi protocols, Sushi Swap y Uniswap, are optimistic about the arrival of the new scalability protocol, and its developers confirmed their interest in integrating into this new solution.
The lead developer of SushiSwap, known as “0xMaki”, tweeted that the DeFi protocol has already implemented Arbitrum One to escape Ethereum’s high gas costs, and offer its users faster transactions.
Same for Uniswap. Its founder and lead developer, Hayden Adams, published on Twitter that Uniswap's V3 iteration will implement Arbitrum One, as a result of its community voting that chose Arbitrum as the next scaling protocol to optimize DEX performance. Adams stated that Uniswap is already working on implementing this protocol.
Other DeFi protocols, such as CurveFinance They also requested access to the Arbitrum One beta version, although, as the developers indicated on Twitter, they have not been included in this stage of Arbitrum because they filled out the form “a little late.”
Continue reading: 0x Protocol is now available on Polygon to add liquidity to the protocol
